€-coin is a real-time, monthly estimate of area-wide GDP growth, computed each month by the staff of the Banca d’Italia. It provides a single number summarizing the current economic picture for the euro area.

€-coin collates a large collection of statistical data (industrial production, business surveys, stock market and financial data, demand indicators, and more) and extracts the information that is relevant to forecast GDP. It tracks underlying GDP growth, preceding official GDP releases by several months. Essentially, the index:

(ii) highlights the underlying trend by adjusting the growth rate for short-term fluctuations and measurement errors; that is, the index figure is an indicator of the euro area’s actual growth momentum.

For further technical details on €-coin, see “New Eurocoin: Tracking economic growth in real time”, The Review of Economics and Statistics, No. 92, 1024-1034, available in the Bank of Italy working paper series (Temi di Discussione della Banca d’Italia) no. 631